Essays on Wage Bargaining in Dynamic Macroeconomics / by Oliver Claas

By:

Claas, Oliver [VerfasserIn]

Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: Springer eBook Collection | Springer eBooks Economics and Finance | Lecture notes in economics and mathematical systems ; 689Publisher: Cham : Springer, 2019Edition: 1st ed. 2019Description: 1 Online-Ressource (VIII, 153 p. 43 illus., 21 illus. in color)ISBN:

9783319978284

Subject(s):

Additional physical formats: 9783319978277 | Erscheint auch als: 978-3-319-97827-7 Druck-Ausgabe | Erscheint auch als: Essays on wage bargaining in dynamic macroeconomics. Druck-Ausgabe Cham, Switzerland : Springer, 2019DDC classification:

339 23

RVK: RVK: QC 220LOC classification:

HB172.5

DOI: DOI: 10.1007/978-3-319-97828-4Online resources:

Summary: Introduction -- Efficient Bargaining in a Dynamic Macroeconomic Model -- Wage Bargaining, Employment, and Union Power: The Right-to-Manage Approach -- Efficient Bargaining Under Labor Market Segmentation in a Macroeconomic ModelSummary: This book addresses collective bargaining in an intertemporal monetary macroeconomy of the aggregate supply–aggregate demand (AS–AD) type with overlapping generations of consumers and with a public sector. The results are presented in a unified framework with a commodity market that clears competitively. By analyzing the implications of three variants of collective bargaining – efficient bargaining in a uniform and a segmented labor market and “right-to-manage” wage bargaining – it identifies the quantity of money, price expectations, union power, and union size as the determinants of temporary equilibria. In the three scenarios, it characterizes and compares the temporary equilibria using both analytical and numerical techniques, with an emphasis on allocations, welfare, and efficiency. It also discusses the dynamic evolution under rational expectations and its steady states in nominal and real terms. Lastly, it demonstrates conditions for stability regarding a balanced monetary expansion of the economyPPN: PPN: 1684971470Package identifier: Produktsigel: ZDB-2-ECF | ZDB-2-SEB | ZDB-2-SXEF

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